Bridge Loan Vs High St
Bridging loans are becoming common practice in the Property and Construction industry. They have proven to have resilience in the most uncertain of times.
With the rising red tape surrounding conventional mortgages it is becoming a popular option that can reliably keep firms on track.
Here we discover the differences with the commercial financing offerings:
How is a Bridging Loan different from a high st loan
Bridging Loans are most commonly used in the property sector, both in the residential and commercial side, to help unlock a property chain. It is a great solution for developers that need quick access to capital. It is a short-term interest-only loan to ‘bridge’ the gap.
Providing a breathing space that will allow for the property transaction, auction purchase, renovation or simply inject much needed capital into a business. They’re a useful means of securing a property quickly, preventing foreclosure, or seizing a great opportunity before long term financing has been arranged.
When could you utilise a Bridging Loan?
Capital Raising If you have property security, funds can be quickly arranged for you whilst the property is being sold or refinanced on to a long- term finance
Auction Bridging If you are purchasing a property at auction, you can access the funds speedily allowing you to complete the purchase on
Fast Property Purchasing You’ve seen a property you want; you may have identified how you can maximise profits by a refine etc and you have to complete quickly to ensure that you secure the property.
Do you have a project you would like to finance ?
Have a quick chat with one of our experts and find out how mint bridging could help you.